PENTAGON, Washington D.C. - Fort Drum, New York announced an additional phase of construction will add 166 homes to the Mountain Community Homes portfolio over the next 33 months.

The construction is a result of the Military Housing Privatization Initiative, a partnership created between the Army and Lend Lease Public Partnerships.

Fort Drum Mountain Community Homes and Lend Lease announced it had secured financing for an additional phase of construction, this on the heels of the recent completion of current construction under the same program.

The additional homes include 161 new junior Soldier four and five-bedroom homes on the newly developed Crescent Woods site. Junior Soldiers have the most difficulty finding both affordable and available larger housing off post.

The project also includes 22 additional three and four-bedroom Company Grade Officer homes in the Monument Ridge neighborhood, conversion of 42 garden apartments to 21 five-bedroom townhomes in the Adirondack Creek development, four Senior Grade Officer homes in the LeRay community and 66 exterior renovations.

Project manager, Joseph McLaughlin said, "We are thrilled to be bringing more homes to the Soldiers and Families of the 10th Mountain Division. We have worked very closely with local organizations to leverage this new phase in a way that benefits everyone in the local community, both on post and outside of the gate."

The $75 million in construction effort, funded by Lend Lease, includes a centrally located main office, maintenance facilities and a salt storage facility.

All homes will be constructed over the course of a 33 month development period, with the first home set to be delivered in April of 2012, with final completion of all homes slated for November of 2013.

The Fort Drum Mountain Community Homes LLC (FDMCH) is a partnership created between the Army and Lend Lease Public Partnerships through the Military Housing Privatization Initiative. FDMCH involves the development of 1,586 new three, four and five bedroom homes, four state-of-the-art community centers and the renovation of all 2,249 existing homes during the development period. FDMCH will finance, develop, build, renovate and operate these sites for at least 50 years.

Lend Lease is a leading global real estate services business, having developed, constructed and managed real estate assets around the world for more than 50 years. Listed on the Australian Stock Exchange, the Lend Lease Group operates in 30 countries on six continents with a significant presence in Australia, Asia, Europe and the Americas.

In the United States, Lend Lease's public partnership business is the nation's leader in public/private community development. With a focus on creating sustainable value, Lend Lease creates communities that regenerate our environment, enrich people's lives and foster economic growth. Lend Lease has worked extensively with the Department of Defense through the Military Housing Privatization Initiative (MHPI), a program that provides for the transfer of military housing assets to private sector companies.